Achieving Price Stability

A symposium sponsored by the Federal Reserve Bank of Kansas City
Jackson Hole, Wyoming
August 29-31, 1996

• Foreword
  THOMAS M. HOENIG
  President, Federal Reserve Bank of Kansas City

• The Contributors

• Symposium Summary

• Opening Remarks
  ALAN GREENSPAN
  Chairman, Board of Governors of the Federal Reserve System

• Why Are Central Banks Pursuing Long-Run Price Stability?
  STANLEY FISCHER
  First Deputy Managing Director, International Monetary Fund

• Commentary
  LAWRENCE SUMMERS
  Deputy Secretary, U.S. Department of the Treasury

• General Discussion

• How Should Central Banks Reduce Inflation? - Conceptual Issues
  MERVYN KING
  Chief Economist and Executive Director, Bank of England

• Commentary
  RUDIGER DORNBUSCH
  Professor, Massachusetts Institute of Technology

• Commentary
  BENNETT T. McCALLUM
  Professor, Carnegie-Mellon University

• General Discussion

How Have Central Banks Reduced Inflation? - Practical Issues

• Reducing Inflation in New Zealand: Some Practical Issues
  DONALD T. BRASH
  Governor, Reserve Bank of New Zealand

• Israel's Experience With Inflation
  JACOB FRENKEL
  Governor, Bank of Israel

• Disinflation in the Czech Republic: Looking Both Backward and Forward
  JOSEF TOSOVSKY
  Governor, Czech National Bank

• General Discussion

• Lessons From the Stabilization Process in Argentina
  DOMINGO CAVALLO
  Former Minister of Economy and Public Works, Republic of Argentina

• General Discussion

• How Should Monetary Policy Respond to Shocks While Maintaining Long-Run Price Stability? - Conceptual Issues
  JOHN B. TAYLOR
  Professor, Stanford University

• Commentary
  DAVID W. MULLINS, JR.
  Principal, Long-Term Capital Management, L.P.

• Commentary
  LARS E.O. SVENSSON
  Professor, Institute for International Economic Studies

• General Discussion

• What Operating Procedures Should Be Adopted To Maintain Price Stability? - Practical Issues
  CHARLES FREEDMAN
  Deputy Governor, Bank of Canada

• Commentary
  OTMAR ISSING
  Member of the Directorate, Deutsche Bundesbank

• Commentary
  DONALD L. KOHN
  Director, Division of Monetary Affairs, Board of Governors of the Federal Reserve System

• General Discussion

Overview Panelists

• ANDREW CROCKETT
  General Manager, Bank for International Settlements
• MARTIN FELDSTEIN
  President, National Bureau of Economic Research
• JEAN-CLAUDE TRICHET
  Governor, Bank of France

• General Discussion

• The Participants

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